Importance of teamwork
Teamwork can be simply defined, "as a state of unity achieved within a group of people working for a specific economic benefit." The phenomenon of teamwork in business is basically used to define the coordination and cooperation, between the members of a partnership that form a business or a joint venture or a private limited company. There are several, genuine advantages of preserving a team spirit, in such organizations, so as to ensure optimized output. There are several firms and companies, around the world, that operate as business groups and have a very well-defined set of rules and regulations, so as maintain the team spirit and ensure teamwork in their ...view middle of the document...
The division of work, also, ensure that the work is done on time and deadlines are not extended.
Reduction of Risk
When the task at hand is executed with the maximum possible efficiency, there is a reduction in risk. The best advantage of teamwork in business is that the burden of failure is borne by all the members of the team and it does not fall on the shoulders of just one person.
Specialization in Work
Another very good advantage of teamwork in business is that a person is able to specialize in one specific field. That is, he can optimize the quality of the work that he does, and can also work with the maximum possible efficiency. This ensures a high quality output from all individuals and the whole team.
Subordination of Personal Interest to Organizational Interest
One of the biggest advantages of teamwork is that personal interest is subordinate to organizational interest. This ensures that all the team members put in the maximum possible efforts into their work, thereby ensuring a high quality and timely output.
Teamwork is used across many different industries to increase performance, employee unity and company culture. Companies that must frequently develop new ideas or products using a project-based approach assemble teams in order to diffuse responsibility. Team members use teamwork to bounce ideas off of one another before deciding on a development path for a project.
Teamwork is important due to the problem-solving synergy gained from multiple minds working on a solution. When one person works on a specific company problem, that person only has her personal experience and knowledge from which to pull for solutions. Using teamwork, team members pool their collective ideas together to generate unique ideas for dealing with problems. Problems in this case are not purely negative. The problem could be developing a product for a consumer to address a need that the consumer does not know that she has.
Teamwork is the backbone of effective communication within a company. When employees work as individuals or independently on projects, they may not readily share knowledge or new information. This lack of communication increases the time it takes to complete projects, tasks or the development of solutions. Teamwork promotes conversation between employees regarding the task at hand, possibly...